Silvercorp Metals (NYSEAMERICAN:SVM) Trading Down 8.7% – Here’s What Happened

Silvercorp Metals Inc. (NYSEAMERICAN:SVM) shares dropped 8.7% during mid-day trading on Monday . The company traded as low as $10.79 and last traded at $10.80. Approximately 1,269,799 shares were traded during trading, a decline of 81% from the average daily volume of 6,675,298 shares. The stock had previously closed at $11.83.

Analysts Set New Price Targets

Several research analysts recently issued reports on SVM shares. BMO Capital Markets reiterated an “outperform” rating on shares of Silvercorp Metals in a research report on Friday, January 16th. Roth Mkm set a $11.00 price target on shares of Silvercorp Metals in a research report on Tuesday, February 10th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Silvercorp Metals in a report on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.25.

Silvercorp Metals Trading Down 5.7%

The firm has a market cap of $2.46 billion, a P/E ratio of -159.41 and a beta of 0.92. The business’s fifty day simple moving average is $10.97 and its 200-day simple moving average is $8.14.

Institutional Investors Weigh In On Silvercorp Metals

A number of large investors have recently modified their holdings of SVM. Tidal Investments LLC raised its stake in Silvercorp Metals by 24.2% in the third quarter. Tidal Investments LLC now owns 10,966,184 shares of the company’s stock worth $69,306,000 after buying an additional 2,138,301 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Silvercorp Metals by 238.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,243,477 shares of the company’s stock worth $77,244,000 after acquiring an additional 6,511,389 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Silvercorp Metals by 38.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,138,358 shares of the company’s stock worth $57,665,000 after acquiring an additional 2,534,155 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Silvercorp Metals by 29.6% in the 4th quarter. Van ECK Associates Corp now owns 6,845,803 shares of the company’s stock worth $57,097,000 after acquiring an additional 1,562,525 shares in the last quarter. Finally, Baillie Gifford & Co. purchased a new position in shares of Silvercorp Metals in the 4th quarter valued at approximately $35,248,000. Institutional investors own 22.30% of the company’s stock.

About Silvercorp Metals

Silvercorp Metals Inc is a Canadian-based precious metals company engaged in silver, lead and zinc production. The company’s core operations are located in the provinces of Henan and Guangxi in the People’s Republic of China, where it operates several underground mining and milling facilities. Silvercorp focuses on low‐cost, high‐grade silver projects, producing concentrates that are sold to smelting partners under long‐term offtake arrangements.

The company’s principal assets include the Ying Mining District in Henan Province, which hosts multiple sub‐district mines, and the GC and HPG silver‐lead‐zinc projects in Guangxi Province.